Oppenheimer Asset Management Inc. Boosts Stock Position in Enovis Co. (NYSE:ENOV)

Oppenheimer Asset Management Inc. grew its holdings in shares of Enovis Co. (NYSE:ENOV) by 38.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,876 shares of the company’s stock after buying an additional 2,731 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Enovis were worth $446,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its stake in Enovis by 5.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 471,047 shares of the company’s stock valued at $26,388,000 after acquiring an additional 26,120 shares during the last quarter. Principal Securities Inc. bought a new position in shares of Enovis during the fourth quarter worth about $41,000. Envestnet Portfolio Solutions Inc. increased its holdings in Enovis by 5.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,185 shares of the company’s stock valued at $290,000 after buying an additional 264 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in Enovis during the fourth quarter valued at approximately $296,000. Finally, Brown Advisory Inc. bought a new position in Enovis during the 4th quarter worth approximately $428,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC lowered their price target on Enovis from $82.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Evercore ISI dropped their target price on shares of Enovis from $70.00 to $62.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Enovis from $53.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.13.

Enovis Stock Down 3.0 %

ENOV stock opened at $43.65 on Friday. The company has a quick ratio of 1.08, a current ratio of 2.26 and a debt-to-equity ratio of 0.40. The firm’s 50-day simple moving average is $44.73 and its 200 day simple moving average is $50.05. The stock has a market cap of $2.39 billion, a PE ratio of -29.10 and a beta of 1.92. Enovis Co. has a fifty-two week low of $39.98 and a fifty-two week high of $65.03.

Enovis (NYSE:ENOV) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. Enovis had a positive return on equity of 4.06% and a negative net margin of 4.73%. The company had revenue of $525.20 million for the quarter, compared to analysts’ expectations of $525.99 million. During the same quarter in the previous year, the company posted $0.61 earnings per share. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. As a group, sell-side analysts predict that Enovis Co. will post 2.7 EPS for the current year.

About Enovis

Enovis Corporation operates as a medical technology company focus on developing clinically differentiated solutions worldwide. It also manufactures and distributes medical devices which are used for reconstructive surgery, rehabilitation, pain management, and physical therapy. The company operates through Prevention and Recovery, and Reconstructive segments.